1) BM issues the UIA with a fixed amount and price so total market cap is $45k
2) people buy into that via bitusd and bts
3) BM uses converts the bitusd and bts in usd
4) Owners of the UIA "may" receive the fees from the stealth transfers for life
5) Problem solved right?
Everything is based on trust.No legal binding. No "security"
I'm not sure the "may" would hold up. If BM refused to distribute any fees, a court may enforce it because the implied expectation was materially relied upon.
a proper disclaimer associated with the UIA solves any legal issues I think...
I don't think that there is any legal binding with Brownies
"Brownie points in modern usage are a hypothetical social currency, which can be acquired by doing good deeds or earning favor in the eyes of another, often one's superior.
Issued by bytemaster".
Nothing in this statement says anything about any possible future sharedrops but a lot of people in here are buying these Brownies in the expectation and hope of those sharedrops..No matter what happens no one can claim that this is a security because of the implied expectation by some people..
Bitshares is a free society based on free gifts from one to the other. We are building a gift economy here. I don't think you can drive BM to the court if he issues an asset that people buy in with the expectation to receive fees for life and then he refuses to distribute those fees. All you can do in this case is never trust him ever again..I think we overcomplicate things for no reason..